The Fed Likely to Hold Off on Cutting Rates Until Later in 2024

Most Experts Now Penciling the First Rate Reduction for the Central Banks

The Federal Reserve is likely to hold off on cutting rates until later in 2024, with most experts now penciling in the first rate reduction for the central bank in the second half of the year. The FOMC, the Fed's policy-making body, holds eight regularly scheduled meetings during the year, and other meetings as needed. Links to policy statements and minutes are available on the Fed's website.

Investors are awaiting the Federal Reserve's rate announcement and press conference, as well as big-name earnings, this week. The Fed is expected to keep its key interest rate steady on Wednesday, but American households will be listening for clues about the central bank's thinking on the economy and inflation.

What Happened Today at the Fed Meeting

The Federal Reserve raised interest rates by a quarter of a point on Wednesday, its 10th straight increase, as it continues to battle high inflation. The move was widely expected, and the Fed signaled that it plans to continue raising rates in the coming months.